Judge declines to force FEMA to release funds

A federal judge has refused to order the Trump administration to immediately reimburse dozens of public broadcasting stations for upgrades to the nation’s emergency alert system.

The nonprofit Corporation for Public Broadcasting sued the Federal Emergency Management Agency last Thursday. The CPB claims FEMA has unlawfully held up nearly $2 million in grant money for modernizing the alert system. However, U.S. District Judge Timothy Kelly ruled Monday that the CPB failed to show how it has been irreparably harmed.

Operator of Forever 21 files for bankruptcy

Forever 21 has filed for bankruptcy protection for a second time and plans to close down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.

F21 OpCo, which runs Forever 21 stores, said late Sunday that it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.

Wall Street rises again; more big swings ahead

U.S. stocks climbed again as Wall Street’s wild roller-coaster ride veers back upward.

The S&P 500 rose 0.6% Monday for a second straight gain after falling 10% below its recent record last week. The Dow Jones Industrial Average added 0.9%, and the Nasdaq composite rose 0.3%. More big swings could be ahead, with a decision by the Federal Reserve on interest rates coming later in the week.

PepsiCo buys prebiotic soda brand Poppi

PepsiCo said Monday it’s acquiring the prebiotic soda brand Poppi for $1.95 billion. The acquisition gives PepsiCo a fast-growing brand in the popular functional beverage category.

PepsiCo said the transaction includes $300 million of anticipated cash benefits, bringing the net purchase price to $1.65 billion. Poppi was developed in 2015 by Allison Ellsworth, who loved soda but was tired of how it made her feel. Ellsworth mixed fruit juice with apple cider vinegar, prebiotics and sparkling water and sold it at farmer’s markets.

Pipeline company’s suit goes to North Dakota jury

A North Dakota jury has begun deliberating on whether Greenpeace defamed a pipeline company and disrupted its controversial Dakota Access Pipeline project.

The environmental advocacy group says the case, which resumed on Monday, could have consequences for free speech and protest rights and threaten the organization’s future. Dallas-based Energy Transfer and its subsidiary Dakota Access alleged defamation, trespass, nuisance and other offenses by Netherlands-based Greenpeace International, Greenpeace USA and funding arm Greenpeace Fund Inc.

Trump names Bowman as Fed bank regulator

President Donald Trump on Monday nominated Michelle Bowman to oversee the Federal Reserve’s financial regulatory efforts, a move that could lead to looser rules for large banks.

Bowman replaces Michael Barr as the Fed’s Vice Chair for Supervision, after Barr stepped down last month.

Driverless mini-bus tested in Barcelona

Renault is testing a new driverless mini-bus in Barcelona this week. The autonomous vehicle is running on a circular route of just under 1.5 miles, with four stops in the center of the Spanish city.

The French carmaker unveiled the driverless bus at the French Open venue last year, but is now testing it on the open road in Barcelona.